Income Tax Expense (Tables)

12 Months Ended

Sep. 30, 2015

Income Tax Expense [Abstract]

Total income tax expense (benefit)

Total income tax expense (benefit) for 2015, 2014 and 2013 was allocated to income tax expense as follows:

(Dollars in thousands)	2015		2014		2013
Income tax expense from Continuing Operations	$	19,785		19,594		18,335
Income tax (benefit) expense from Discontinued Operations		390		(6,034)		(5,215)
Total income tax expense	$	20,175		13,560		13,120

Components Of Income From Continuing Operations Before Income Taxes

The components of income from continuing operations before income taxes for 2015, 2014 and 2013 consisted of the following:

(Dollars in thousands)	2015		2014		2013
United States	$	56,661		56,196		43,159
Foreign		4,860		6,011		6,436
Total income before income taxes	$	61,521		62,207		49,595

Principal Components Of Income Tax Expense (Benefit) From Continuing Operations

The principal components of income tax expense (benefit) from continuing operations for 2015, 2014 and 2013 consist of:

(Dollars in thousands)	2015		2014		2013
Federal:
Current	$	11,906		18,756		10,723
Deferred		5,406		(2,442)		2,942
State and local:
Current		867		1,397		896
Deferred		16		(245)		642
Foreign:
Current		1,525		2,044		2,033
Deferred		65		84		1,099
Total	$	19,785		19,594		18,335

Schedule Of Actual Income Tax Expense (Benefit) From Continuing Operations

The actual income tax expense (benefit) from continuing operations for 2015, 2014 and 2013 differs from the expected tax expense for those years (computed by applying the U.S. Federal corporate statutory rate) as follows:

	2015			2014		2013
Federal corporate statutory rate		35.0	%	35.0	%	35.0	%
State and local, net of Federal benefits		1.2		2.0		2.7
Foreign		(1.5)		(1.7)		(1.9)
Research credit		(1.8)		(1.0)		(2.5)
Domestic production deduction		(2.6)		(2.9)		(2.5)
Change in uncertain tax positions		(0.2)		(2.9)		0.1
Executive compensation		0.9		1.3		1.8
Valuation allowance		1.0		1.3		4.0
Other, net		0.2		0.4		0.3
Effective income tax rate		32.2	%	31.5	%	37.0	%

Tax Effects Of Temporary Differences That Give Rise To Significant Portions Of The Deferred Tax Assets And Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at September 30, 2015 and 2014 are presented below:

(Dollars in thousands)	2015		2014
Deferred tax assets:
Inventories	$	6,336		7,710
Pension and other postretirement benefits		11,663		6,974
Net operating loss carryforward — domestic		520		658
Net operating loss carryforward — foreign		4,135		4,702
Other compensation-related costs and other cost accruals		11,785		13,996
State credit carryforward		1,704		1,276
Total deferred tax assets		36,143		35,316
Deferred tax liabilities:
Goodwill		(14,829)		(14,338)
Acquisition assets		(57,415)		(57,795)
Depreciation, software amortization		(18,681)		(16,380)
Net deferred tax liabilities before valuation allowance		(54,782)		(53,197)
Less valuation allowance		(4,129)		(4,297)
Net deferred tax liabilities	$	(58,911)		(57,494)

Reconciliation Of Unrecognized Tax Benefits

A reconciliation of the Company’s unrecognized tax benefits for the years ended September 30, 2015 and 2014 is presented in the table below:

(Dollars in millions)	2015		2014
Balance as of October 1,	$	0.5		2.2
Decreases related to prior year tax positions		(0.1)		(0.7)
Decreases related to settlements with taxing authorities		(0.2)		—
Lapse of statute of limitations		(0.1)		(1.0)
Balance as of September 30,	$	0.1		0.5